Property
| Ownership: | For Sale |
|---|---|
| Area: | 7502 sq ft |
| Lot Size: | 0.17 Acres |
FinancialsPrice:$1,499,000
DescriptionThe subject property for sale is a prime development opportunity located at 210 N Berendo Street, Los Angeles CA 90004. Located just 0.2 Miles away from the Metro Red Line Station at Beverly and Vermont, tenants can benefit from the great location and numerous eateries nearby. Zoned LAR3-1 with a lot area of 7500 sq. ft., the site offers multiple development options under current zoning and recent legislative incentives. This site presents significant upside potential through various development pathways, including maximizing density through ED1 affordable housing incentives or Small Lot Subdivisions. The Citywide Housing Incentive Program (CHIP) Ordinance enables streamlined project review procedures and introduces new incentives for eligible project types in order to expand access to affordable housing near transit, jobs, along corridors, and in higher opportunity areas. Through ED-1 you can potentially build 50+ units. Please consult a qualified architect, structural engineer, and dry utility consultant to verify the physical feasibility and ensure compliance with relevant building codes and standards. A savvy investor also benefits from of the current cash flow the property is generating through the current tenant in place while going through the planning and development process. Property currently has a Family Child Care tenant that is paying $6,000 per month ($72,000 year) and the term is set to expire at the end of March 2026. As a result of the neighborhood's charm and desirability, there is robust demand for housing and long-term rent growth. The asset's location along with the development incentives are an excellent acquisition for a developer or long term investor.
NeighborhoodMore listings:
The subject property for sale is a prime development opportunity located at 210 N Berendo Street, Los Angeles CA 90004. Located just 0.2 Miles away from the Metro Red Line Station at Beverly and Vermont, tenants can benefit from the great location and numerous eateries nearby. Zoned LAR3-1 with a lot area of 7500 sq. ft., the site offers multiple development options under current zoning and recent legislative incentives. This site presents significant upside potential through various development pathways, including maximizing density through ED1 affordable housing incentives or Small Lot Subdivisions. The Citywide Housing Incentive Program (CHIP) Ordinance enables streamlined project review procedures and introduces new incentives for eligible project types in order to expand access to affordable housing near transit, jobs, along corridors, and in higher opportunity areas. Through ED-1 you can potentially build 50+ units. Please consult a qualified architect, structural engineer, and dry utility consultant to verify the physical feasibility and ensure compliance with relevant building codes and standards. A savvy investor also benefits from of the current cash flow the property is generating through the current tenant in place while going through the planning and development process. Property currently has a Family Child Care tenant that is paying $6,000 per month ($72,000 year) and the term is set to expire at the end of March 2026. As a result of the neighborhood's charm and desirability, there is robust demand for housing and long-term rent growth. The asset's location along with the development incentives are an excellent acquisition for a developer or long term investor.
210 N Berendo St Hancock Park LA
DescriptionThe subject property for sale is a prime development opportunity located at 210 N Berendo Street, Los Angeles CA 90004. Located just 0.2 Miles away from the Metro Red Line Station at Beverly and Vermont, tenants can benefit from the great location and numerous eateries nearby. Zoned LAR3-1 with a lot area of 7500 sq. ft., the site offers multiple development options under current zoning and recent legislative incentives. This site presents significant upside potential through various development pathways, including maximizing density through ED1 affordable housing incentives or Small Lot Subdivisions. The Citywide Housing Incentive Program (CHIP) Ordinance enables streamlined project review procedures and introduces new incentives for eligible project types in order to expand access to affordable housing near transit, jobs, along corridors, and in higher opportunity areas. Through ED-1 you can potentially build 50+ units. Please consult a qualified architect, structural engineer, and dry utility consultant to verify the physical feasibility and ensure compliance with relevant building codes and standards. A savvy investor also benefits from of the current cash flow the property is generating through the current tenant in place while going through the planning and development process. Property currently has a Family Child Care tenant that is paying $6,000 per month ($72,000 year) and the term is set to expire at the end of March 2026. As a result of the neighborhood's charm and desirability, there is robust demand for housing and long-term rent growth. The asset's location along with the development incentives are an excellent acquisition for a developer or long term investor.
NeighborhoodMore listings:
The subject property for sale is a prime development opportunity located at 210 N Berendo Street, Los Angeles CA 90004. Located just 0.2 Miles away from the Metro Red Line Station at Beverly and Vermont, tenants can benefit from the great location and numerous eateries nearby. Zoned LAR3-1 with a lot area of 7500 sq. ft., the site offers multiple development options under current zoning and recent legislative incentives. This site presents significant upside potential through various development pathways, including maximizing density through ED1 affordable housing incentives or Small Lot Subdivisions. The Citywide Housing Incentive Program (CHIP) Ordinance enables streamlined project review procedures and introduces new incentives for eligible project types in order to expand access to affordable housing near transit, jobs, along corridors, and in higher opportunity areas. Through ED-1 you can potentially build 50+ units. Please consult a qualified architect, structural engineer, and dry utility consultant to verify the physical feasibility and ensure compliance with relevant building codes and standards. A savvy investor also benefits from of the current cash flow the property is generating through the current tenant in place while going through the planning and development process. Property currently has a Family Child Care tenant that is paying $6,000 per month ($72,000 year) and the term is set to expire at the end of March 2026. As a result of the neighborhood's charm and desirability, there is robust demand for housing and long-term rent growth. The asset's location along with the development incentives are an excellent acquisition for a developer or long term investor.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
